Luxottica and Essilor Merge to Create €46 Billion Eyewear Giant

Luxottica and Essilor are merging to create a €46 billion ($49 billion0 eyewear giant with revenue of more than €15 billion. The total market value of the two manufacturers will be over €46 billion. Net earnings before interest, taxes, depreciation and amortization will be about €3.5 billion. The companies expect revenue and cost synergies of €400 million to €600 million.

The merger comes a year after the founder of Luxottica pledged to double company revenue by 2024.